Y Intercept Hong Kong Ltd Buys Shares of 60,055 Heritage Commerce Corp $HTBK

Y Intercept Hong Kong Ltd purchased a new position in Heritage Commerce Corp (NASDAQ:HTBK) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 60,055 shares of the financial services provider’s stock, valued at approximately $749,000.

Other institutional investors have also made changes to their positions in the company. First Trust Capital Management L.P. bought a new stake in Heritage Commerce in the fourth quarter valued at about $18,616,000. Balyasny Asset Management L.P. bought a new stake in shares of Heritage Commerce in the 4th quarter valued at about $15,627,000. Versor Investments LP raised its position in shares of Heritage Commerce by 904.2% in the 4th quarter. Versor Investments LP now owns 740,090 shares of the financial services provider’s stock valued at $8,888,000 after acquiring an additional 666,390 shares during the period. ABC Arbitrage SA bought a new position in Heritage Commerce during the 4th quarter worth approximately $6,975,000. Finally, Boston Partners grew its holdings in Heritage Commerce by 52.1% during the third quarter. Boston Partners now owns 1,676,777 shares of the financial services provider’s stock valued at $16,636,000 after purchasing an additional 574,070 shares during the period. 75.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Heritage Commerce from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.12.

Heritage Commerce Stock Performance

Shares of Heritage Commerce stock opened at $13.45 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market cap of $828.43 million, a price-to-earnings ratio of 17.24 and a beta of 0.69. The stock’s 50-day moving average is $13.45 and its 200-day moving average is $13.02. Heritage Commerce Corp has a one year low of $8.73 and a one year high of $13.82.

Heritage Commerce Company Profile

Heritage Commerce Corporation, headquartered in Farmington Hills, Michigan, is the bank holding company for Heritage Bank, N.A., a community-oriented financial institution. Traded on NASDAQ under the symbol HTBK, the company focuses on delivering tailored banking services to businesses, professionals and individuals throughout Southeastern Michigan.

Heritage Bank, N.A. offers a comprehensive portfolio of deposit and lending products designed to meet the needs of commercial and consumer clients.